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ADB Conducts Training for Government in Financial Governance and Management

DHAKA, BANGLADESH (31 March 2004) - A two-day Asian Development Bank (ADB) training program in Financial Governance and Management concluded in Dhaka today, attended by about 50 participants from key ministries and executing agencies.

In her remarks to the event, ADB Deputy Country Director in Bangladesh, Hua Du, emphasized the importance of strengthened financial management, proper accounting, and improvement of auditing for improving project implementation in Bangladesh.

The program, organized by ADB's Sustainable Department for Development (RSDD) and Bangladesh Resident Mission, forms a key part of an action plan agreed with the Government to improve ADB's loan and TA portfolio performance in Bangladesh.

The training was financed under a Regional Technical Assistance provided by ADB and conducted by Financial Management Specialists Sarath Lakshman Athukorala from RSDD and Elaine Glennie from ADB's South Asia Department's Governance, Finance, and Trade Division.

It focused on key areas of financial management and reporting, accounting standards and procedures, and auditing of ADB-financed projects. The program aimed to:

• Familiarize Government officials and staff of executing and implementing agencies in the application of ADB's revised Guidelines for the Financial Governance and Management of Investment Projects Financed by ADB;
• Introduce participants to the concepts, techniques, and key issues in the financial analysis of projects and programs;
• Upgrade the capacity of officials of the Government and staff of executing and implementing agencies to apply financial management best practices.

ADB is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 63 members - 45 from the region. In 2003, it approved loans and technical assistance amounting to US$6.1 billion and US$177 million, respectively.